YOUR TRUSTED ADVISOR
Buying a home is one of life’s biggest investments and most exciting adventures. As your Coldwell Banker ® affiliated agent, I will be your trusted advisor in the process, guiding you along the way to make your experience smooth and successful. A buyer’s agent offers these essentials during the transaction:
Expert Guidance
Expertise and insight to guide you through the complex real estate process, helping you make informed decisions every step of the way.
Local Market Knowledge
I have the tools and training to serve as your local market guide, with information about trends, pricing and availability to give you a competitive edge in finding the perfect home.
Peace of Mind
Feel confident knowing that a professional is there to help you navigate any unexpected challenges or delays.
Negotiation Skills
You will have a fearless advocate during the entire real estate process, one who is armed with data and negotiation strategies that can lead to winning deals and smooth resolutions.
Time-Saving Convenience
Offers, showings and more will be coordinated on your behalf, along with connections to necessary vendors like mortgage professionals.
STEP-BY-STEP GUIDANCE
When you choose me as your agent, you’ll have someone by your side every step of the way, giving you the insights and information you need to have confidence in your decision.
I will:
• Help you establish your budget and connect you with a reputable lender to get pre-approved for a mortgage
• Discuss your needs and goals, and plan your property search criteria
• Provide coaching on the best time to buy
• Agree upon the parameters of our working relationship
• Coordinate showings for properties that meet your needs and explain/negotiate features
• Keep you informed of new properties that come on the market that would interest you
• Help you understand the market data for any properties of interest
• Work with you until you find the right home
• Assist in determining your offer, including developing a multiple-offer strategy
• Review and discuss details of the seller’s disclosure
• Apply my expertise in negotiating the offer and contract terms in your best interests
• Facilitate the home inspection and resolution process
• Offer information on reliable contractors and service providers
• Prepare you for closing and the associated costs
• Provide clear and constant communication throughout the transaction
THE POWER OF PRE-APPROVAL
An important first step in any home search is finding out exactly how much home you can afford and securing the necessary financing. While you can get a rough estimate through pre-qualification, taking the extra step to obtain pre-approval will give you some added advantages.
Pre-approval helps you:
• Understand your financial condition
• Know exactly how much home you can afford before you begin your home search
• Strengthen your purchasing power when making an offer
When you find a home you love and are ready to make an offer, your mortgage pre-approval lets the seller know that you’re serious and fully prepared to buy their home, putting you in a stronger position than other potential buyers.
YOUR HOME SEARCH PORTAL
The next stop on your home search? My website. Not only is it an easy way to check out all the available properties in your preferred area, it’s also another way for me to get to know the types of properties that you like. Simply register on the site, and I will receive updates about your activity. Plus, you can save your search for future access, save and share homes you like, and sign up to receive email alerts when new homes that match your criteria come on the market. And thanks to its responsive design, you can do it all from your mobile device, tablet or desktop!
MAKING AN OFFER
There are many factors that influence the market value of a home. The following can help give you insights and empower you to make a competitive offer you’re comfortable with:
• How long has the home been on the market?
• Has the property had any price changes?
• Has the property been under agreement previously?
• Are there multiple offers on the property?
• What is being included in the sale or what may be negotiated as part of the sale?
• What are the market conditions in the area or neighborhood, like “list to sale price ratio?”
• Is the seller offering an assumable loan or seller financing that may be more favorable for you?
I will help you set purchase price parameters by providing you with a comparable market analysis (CMA) comparing the home, its price and its features to other similar homes in the area that are on the market or have recently sold.
Once the offer is written, I will present it to the seller’s agent. At that point the seller can accept your offer, reject it or counter it to start the negotiation process. I will work with you to plan a strategy to ensure the most advantageous terms and acceptable pricing for you and your budget.
CLOSING ON YOUR HOME
Once your offer has been accepted, the closing process begins. Here are some of the typical steps involved.
Home Inspection
Most property sales are contingent on the results of a home inspection, which is paid for by the buyer. The inspection typically occurs within 10 days of offer acceptance, and includes a review of the home’s exterior elements like the roof, siding, trim and windows, as well as kitchen and bathroom fixtures and appliances, and major systems like heating and cooling, plumbing and electrical.
If defects are discovered during the inspection, you may exercise the remedy described in your offer or negotiate with the seller to determine what repairs will be made.
Title Search
This is a historical review of all legal documents relating to ownership of the property to ensure that there are no claims against the title of the property. It is also recommended that you purchase title insurance in case the records contain errors or there are mistakes in the review process.
Appraisal
As a standard part of the mortgage process, your lender will order an appraisal report to ensure that the loan will be guaranteed by the home’s value.
Final Walk-Through
If it’s requested in the contract, you’ll be given the chance to look at the home to make sure it’s in the same condition as when you signed the sales agreement.
Closing Costs
In addition to your deposit and down payment, there are a variety of other costs involved in closing including:
• Loan origination fees, appraisals and reports
• Surveys and inspections
• Mortgage insurance
• Hazard insurance
• Taxes
• Assessments
• Title insurance, notary and escrow fees
• Recording fees and stamps
TRANSACTION MANAGER
Your transaction forms for the purchase of your new home will be entered into Transaction Manager – a convenient, secure website where you can track the progress of your sale and access your documents throughout the process, and long after the closing.
• Important information and documents are uploaded and stored online in your personal account
• Forms and services related to your purchase can be viewed anytime during your transaction
• Automated email alerts and messaging keep you informed
• Upon closing, your transaction is archived so you can retrieve documents during estate planning renovations, financial planning or tax season
FULL-SERVICE SUPPORT
Backed by the Coldwell Banker ® brand’s resources, I will provide complete assistance from beginning to end, giving you one-stop-shop convenience.
Mortgage Services
Guaranteed Rate Affinity provides mortgages across the country and features extremely competitive rates, fantastic customer service and a fast, simple process.
Title Services
Title issues will be researched and resolved before the closing to help ensure your transaction closes smoothly and on time.
Warranty Services
A home warranty from American Home Shield® provides an extra measure of security that makes you feel more comfortable and confident in the purchase of your home.
Insurance Services
We can connect you with agencies that offer competitive rates on homeowners, condominium, renters, automobile, second home, vacant home and umbrella coverage.
BUYER’S AGENT COMPENSATION
Please note that my commission is not set by law and is fully negotiable. Below are examples of how a buyer’s agent can be paid.
How a Buyer’s Agent Is Paid If Seller Offers Compensation
1. The seller of the property you are interested in has offered to pay the commission due from you to me. In this case, your commission obligation to me will be paid by the seller out of funds you pay to purchase the home.
2. The seller has offered compensation consisting of only a portion of the commission you have agreed to pay to me. This would require you to pay any portion of my commission not paid by the seller. Alternatively, you could condition your purchase offer on the seller paying all of your commission obligation to me.
LET’S GET STARTED
How a Buyer’s Agent Is Paid If Seller Does Not Offer Compensation
1. The seller has not offered to pay any portion of the commission you would owe to me. In this case, you can include a requirement that the seller pay your commission obligation as part of the offer you make on the property.
2. The seller will not agree to pay a buyer’s agent commission, in which case you would be responsible for my commission.
Your home-buying needs are one of a kind. Using the unmatched resources of Coldwell Banker Realty, I will develop a custom plan to:
• Provide you with powerful, personal service
• Assist you in finding the right home and help you negotiate the best possible price and terms for it
• Close the sale in a smooth, timely manner
Finding and purchasing a home is a detailed process that demands time and dedication. I am passionate about this because it leads to the ultimate reward – handing you the keys to your dream home and developing a real relationship with you along the way. I would love to have a commitment from you to work with me exclusively. I’m happy to talk through the various types of buyer representation I offer so we can find the right fit for you.
Contact me today to get started!
Gwen
Luce
Global Luxury and Senior Real Estate
Specialist
Coldwell Banker Realty 1125 Merrill Street Menlo Park, CA 94025
C. 650.224.3670 gluce@cbnorcal.com
Checklist HOME-BUYING
Buying a home is one of life’s biggest investments and most exciting adventures. A Coldwell Banker Realty a liated agent is equipped to be your trusted advisor in the process, guiding you every step of the way to make your experience smooth and successful.
1. PARTNER WITH A Coldwell Banker Realty AFFILIATED AGENT
Receive guidance throughout the buying process
Get a competitive edge from local market knowledge
Learn about available properties
Gain access to off-market homes
Benefit from time-saving convenience
Get support through closing – and beyond
2. CREATE YOUR WISH LIST
Visit coldwellbankerhomes.com and your agent’s site to check available properties
Differentiate between wants and must-haves
Determine preferred home style
Consider amenities, schools, transportation, recreation
Schedule home tours through your agent
Choose the home you want to purchase
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3. ORGANIZE FINANCING
Create a timeline and budget
Get mortgage pre-approval
Check your credit report
Determine type of mortgage
Shop for best rates and programs
Understand what you can afford
5. UNDER CONTRACT
Finalize the home loan
Select insurance and warranty providers
Send proof of home insurance to lender
Discuss any discovered zoning changes, liens, easements or other restrictions with your agent
Schedule home inspection and resolve any issues
Determine required repairs and/or upgrades
Use the inspection report to renegotiate, if necessary
Receive information from agent about local, reliable contractors and service providers
Receive property disclosure from seller
Lender to order appraisal report
Title search can ensure there are no claims against the property’s title
Pinpoint move-in date
Certify funds for closing
4. OFFER & DUE DILIGENCE
Review contract terms and conditions
Negotiate the purchase price
Select title provider
Have earnest money ready
Decide on a closing date
Sign the offer
Deliver the escrow check
6. PREPARE FOR CLOSING
Schedule and book a moving company
Notify post office, bank, etc. of new address
Transfer and/or activate utilities
Schedule and attend final walk-through
Have all funds ready for closing
Confirm wire instructions with title company
7. CLOSING DAY
Bring identification to closing
Show proof of paid home insurance policy
Review list of adjustments
Sign the mortgage and all required paperwork
Receive signed deed from seller
Confirm all funds were transferred for closing costs and down payment
Enjoy your new home!
